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ESAB India

ESABINDIA NSE
₹5,330.00 No trade today
P/E
36.98
View as Markdown
MCP
Close 4 Nov 2026 ₹5,330.00 +547.40 +11.4% 1Y
Start ₹4,782.60

Key Fundamentals

MicrocapIndustrial ProductsCapital Goods

Price-based figures as of · EPS basis: Standalone · TTM

ROCE
64.70%
Debt to Equity
0.01
EPS (TTM)
₹144.14
Book Value
₹278.95
Market Cap
—
P/E (TTM)
36.98
P/B
19.11
ROE
48.80%
Dividend Yield
1.37%
EBITDA
₹276 Cr
52W High
₹7,319.50
52W Low
₹4,710.00
Volume
0

Peer Comparison

Industrials › Industrial Products › Other Industrial Products

ESAB India peer comparison
HBL Engineering
₹836.4029.69₹22,697 Cr10.470.37%45.30%59.30%₹3,339 Cr₹780 Cr
INOX India
₹1,936.7068.97₹17,030 Cr15.730.11%26.10%33.50%₹1,618 Cr₹255 Cr
ESAB India (this company)
₹5,330.0036.98₹8,482 Cr19.111.37%48.80%64.70%₹1,577 Cr₹222 Cr
KRN Heat Exchanger and Refrigeration
₹1,011.7065.95₹6,440 Cr6.730.00%14.10%16.00%₹737 Cr₹97 Cr
Harsha Engineers
₹462.0027.19₹4,075 Cr3.000.34%10.50%13.00%₹1,719 Cr₹154 Cr
Subros
₹595.1023.34₹3,836 Cr3.120.51%14.50%19.20%₹3,909 Cr₹167 Cr
Ador Welding
₹1,414.2021.46₹2,487 Cr4.320.52%16.40%22.70%₹1,258 Cr₹115 Cr
Median 7 companies₹1,011.7029.69₹6,440 Cr6.730.37%16.40%22.70%₹1,618 Cr₹167 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

56 Good

Data confidence 100/100

Category scores

Quality
83
Strong
Returns, margins, earnings quality 22% weight
Valuation
49
Average
Cheap vs sector & own history 24% weight
Growth
42
Weak
Sales & profit trajectory 9% weight
Financial Health
86
Strong
Solvency, leverage, coverage 9% weight
Momentum
22
Poor
Trend strength, vol-adjusted 12% weight
Ownership
43
Weak
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

3
  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 52.3%
  • Company has been maintaining a healthy dividend payout of 72.0%

Weaknesses

1
  • Stock is trading at 19.2 times its book value

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1171
OscillatorsNeutral171
Moving AveragesStrong Bearish1000

Key readings

RSI (14)
43.14
Neutral
MACD (12,26,9)
−76.09
Bullish
SMA (50)
5,653.48
Bearish
SMA (200)
5,765.15
Bearish

As of

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+12.83%
5Y+17.23%
3Y+11.39%
1Y+9.83%
TTM+13.04%

Net profit

Net profit growth by window
10Y+22.15%
5Y+28.54%
3Y+15.03%
1Y+18.29%
TTM+29.82%

Operating cash flow

Operating cash flow growth by window
10Y+25.96%
5Y+20.25%
3Y+11.95%
1Y−9.05%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+7.92 pp
5Y+5.71 pp
3Y+0.76 pp
1Y+0.06 pp
TTM+1.12 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹466 Cr
Mar 2018₹543 Cr
Mar 2019₹672 Cr
Mar 2020₹698 Cr
Mar 2021₹681 Cr
Mar 2022₹896 Cr
Mar 2023₹1,091 Cr
Mar 2024₹1,243 Cr
Mar 2025₹1,373 Cr
Mar 2026₹1,508 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹27.00 Cr
Mar 2018₹37.00 Cr
Mar 2019₹58.00 Cr
Mar 2020₹71.00 Cr
Mar 2021₹59.00 Cr
Mar 2022₹84.00 Cr
Mar 2023₹136 Cr
Mar 2024₹163 Cr
Mar 2025₹175 Cr
Mar 2026₹207 Cr

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk medium

Esab India Ltd is a nearly debt-free industrials company with a market cap of ₹8,862 Cr, trading at a PE of 43.3x and a price-to-book of 20.9x. The company has delivered a 3-year ROE of 52% and compounded profit growth of 13% over three years, while maintaining a dividend payout ratio of 72%.

Bull Case 8
  • Company is virtually debt-free, providing financial flexibility and resilience during economic downturns
  • Exceptional return on equity of 52% over 3 years and 49% over 5 years, indicating highly efficient capital allocation
  • Compounded profit growth of 27% over 5 years demonstrates strong earnings momentum over a meaningful period
  • Healthy dividend payout ratio of 72% with a current dividend yield of 1.29%, reflecting shareholder-friendly capital return policy
  • Compounded sales growth of 17% over 5 years shows sustained demand for welding and cutting products in India's industrial expansion
  • Stock CAGR of 25% over both 5-year and 10-year periods indicates consistent long-term wealth creation
  • TTM sales growth of 10% and TTM profit growth of 11% suggest continued business traction in the current period
  • 10-year compounded profit growth of 21% demonstrates the company's ability to grow earnings across multiple business cycles
Bear Case 6
  • PE ratio of 43.3x is expensive for a company growing sales at only 10% TTM, implying a PEG well above 1
  • Sales growth has decelerated from 17% (5-year CAGR) to 11% (3-year CAGR) to 10% (TTM), indicating a slowing growth trajectory
  • Profit growth has moderated from 27% (5-year CAGR) to 13% (3-year CAGR) to 11% (TTM), suggesting margin expansion tailwinds may be fading
  • Market cap of ₹8,862 Cr for a company in a niche industrial segment may limit institutional interest and liquidity
  • ROE has declined from 52% (3-year average) to 49% (last year), and the 10-year average of 32% suggests recent ROE levels may not be sustainable
  • Being a subsidiary of a global parent (ESAB Corporation) limits strategic autonomy and could result in related-party transaction risks or capped growth ambitions

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

121d ago

TL;DR: ESAB India delivered solid FY26 results with 17.83% PAT growth and healthy revenue expansion, complemented by a generous ₹25 per share dividend. No visible headwinds from current news flow. The earnings trajectory is positive, and the upcoming AGM on July 29 may provide further clarity on capital allocation and growth outlook.

Positives 2
  • FY26 PAT up 17.83% Jul 3

    ESAB India reported FY2025-26 profit after tax of ₹20,669 lakhs, growing 17.83% year-over-year, with total revenue rising to ₹1,51,418 lakhs.

  • ₹25 per share final dividend Jul 3

    The board proposed a final dividend of ₹25 per share for FY2025-26, signaling confidence in cash flow generation and shareholder returns.

Neutral 1
  • 39th AGM scheduled July 29 Jul 3

    ESAB India has scheduled its 39th Annual General Meeting for July 29, 2026.

Quarterly Results

₹ Cr
ESABINDIA quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
298
303
301
341
330
339
337
368
352
382
379
396
421
Expenses
240
249
248
279
268
277
282
302
293
309
303
333
342
Operating Profit
58
54
54
62
62
61
55
66
59
72
76
63
79
OPM %
19%
18%
18%
18%
19%
18%
16%
18%
17%
19%
20%
16%
19%
Other Income
3
1.15
1
1
1
1
3
2
1
33
−13
2
2
Interest
0
0
0
0
0
0
0
1
1
0
1
0
0
Depreciation
3
3
4
4
3
4
4
4
4
4
4
4
5
PBT
57
52
51
60
60
59
55
63
55
101
58
60
76
Tax %
25%
26%
26%
26%
26%
27%
26%
24%
26%
22%
26%
27%
26%
Net Profit
42
38
38
44
44
43
40
47
41
79
43
44
56
EPS (₹)
27.53
24.95
24.65
28.75
28.88
28.04
26.23
30.81
26.6
51.45
27.93
28.29
36.47

Profit & Loss

₹ Cr
ESABINDIA profit and loss, annual, ₹ crore
Particulars Mar 2015 15mMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
552
451
466
543
672
698
681
896
1,091
1,243
1,373
1,508
1,577
Expenses
507
406
422
491
593
601
598
775
904
1,014
1,129
1,238
1,287
Operating Profit
45
45
44
52
79
97
83
121
187
229
245
270
290
OPM %
8%
10%
9%
10%
12%
14%
12%
13%
17%
18%
18%
18%
18%
Other Income
0
6
4
11
16
14
11
5
8
6
8
23
24
Interest
0
0
0
0
0
1
2
1
0
2
2
3
2
Depreciation
14
10
10
10
11
13
12
11
12
14
15
17
17
PBT
31
41
38
53
84
97
81
114
182
220
236
274
295
Tax %
23%
31%
29%
29%
32%
27%
26%
26%
26%
26%
26%
25%
—
Net Profit
24
28
27
37
58
71
59
84
136
163
175
207
222
EPS (₹)
15.36
18.41
17.45
24.13
37.41
46.39
38.52
54.77
88.14
106
114
134
144
Div. Payout %
7%
5%
6%
4%
241%
151%
114%
110%
88%
81%
79%
56%
—

Balance Sheet

₹ Cr
ESABINDIA balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
15
15
15
15
15
15
15
15
15
15
15
15
Reserves
274
300
327
363
251
322
244
229
245
291
346
414
Borrowings
0
0
1
0
0
5
3
3
4
5
4
3
Other Liabilities
80
70
85
102
112
116
126
189
210
240
284
266
Total Liabilities
369
386
428
480
379
458
388
436
474
551
649
699
Fixed Assets
83
78
76
80
83
86
90
90
95
125
136
148
CWIP
1
5
7
8
3
7
3
3
20
4
9
6
Investments
122
120
147
125
30
70
41
31
0
0
24
44
Other Assets
163
183
198
269
262
295
255
312
359
421
480
502
Total Assets
369
386
428
480
379
458
388
436
474
551
649
699

Cash Flow

₹ Cr
ESABINDIA cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
16
18
36
30
67
57
72
85
129
141
199
181
Investing
−12
−9
−23
9
102
−120
66
20
5
−55
−15
−46
Financing
−2
−2
−2
−41
−163
39
−139
−102
−122
−81
−157
−143
Net Cash Flow
3
7
12
−2
6
−24
0
3
12
5
27
−8
Free Cash Flow
11
8
22
13
56
37
62
74
98
115
171
150
CFO/OP
63
68
110
89
115
84
114
94
92
87
106
95

Ratios

ESABINDIA financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
29
37
37
40
35
44
53
55
51
55
60
61
Inventory Days
55
76
77
76
58
66
61
68
67
55
59
58
Days Payable
56
56
71
78
71
74
80
93
82
65
87
86
Cash Conversion Cycle
28
57
43
38
21
36
34
30
36
45
32
34
Working Capital Days
22
39
34
67
48
40
46
30
30
25
26
40
ROCE %
15%
14%
13%
15%
26%
32%
27%
44%
71%
77%
70%
65%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view ESAB India insights

65 extracted metrics across FY12–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 73.72%
  • DIIs 12.77%
  • Public 9.71%
  • Others 2.27%
  • FIIs 1.52%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about ESAB India

What does Esab India Ltd do?
ESAB India Ltd is a leading supplier of welding and cutting products in India. It is a subsidiary of ESAB Group which was ultimately owned by the Colfax Corporation of USA.
Where is Esab India Ltd (ESABINDIA) listed?
Esab India Ltd trades as ESABINDIA on the NSE and under code 500133 on the BSE.
Which sector does Esab India Ltd belong to?
Esab India Ltd is classified under the Industrial Products sector, in the Other Industrial Products industry.
What is the PE ratio of Esab India Ltd?
Esab India Ltd trades at a PE ratio of 36.98 as of 4 Nov 2026, on earnings per share of ₹144.14, against a book value of ₹278.95 per share.
What is the 52-week high and low of Esab India Ltd?
Over the last 52 weeks Esab India Ltd has traded between ₹4,710 and ₹7,319.5 as of 4 Nov 2026.
Does Esab India Ltd pay dividends?
Esab India Ltd has a dividend yield of 1.37%.
What is the Return on Equity (ROE) of Esab India Ltd?
Esab India Ltd reported a return on equity of 48.80%. Its debt-to-equity ratio is 0.01.

Company Information

ESAB India Ltd is a leading supplier of welding and cutting products in India. It is a subsidiary of ESAB Group which was ultimately owned by the Colfax Corporation of USA.

Website esabindia.com
CEO Mr. Rohit Gambhir
Employees 852
Listed 1 Nov 1995
Face Value ₹10

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